Scotiabank Lowers Eldorado Gold (NYSE:EGO) Price Target to $16.50

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price objective lowered by investment analysts at Scotiabank from $18.50 to $16.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential upside of 17.73% from the stock’s current price.

Several other equities research analysts have also weighed in on EGO. TD Securities dropped their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and an average target price of $20.00.

Eldorado Gold Trading Up 0.0 %

Shares of Eldorado Gold stock traded up $0.01 during midday trading on Friday, reaching $14.02. The company had a trading volume of 1,433,851 shares, compared to its average volume of 1,730,491. The stock has a fifty day moving average price of $15.45 and a 200 day moving average price of $16.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The firm has a market cap of $2.87 billion, a PE ratio of 10.47 and a beta of 0.93. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in Eldorado Gold by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after buying an additional 94,040 shares during the last quarter. Navellier & Associates Inc. acquired a new stake in Eldorado Gold in the third quarter valued at about $878,000. JPMorgan Chase & Co. increased its holdings in Eldorado Gold by 130.7% in the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after buying an additional 85,053 shares in the last quarter. Jennison Associates LLC increased its holdings in Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares in the last quarter. Finally, Equinox Partners Investment Management LLC increased its stake in shares of Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after purchasing an additional 239,800 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.